The Independent or Congregational theory includes two principles; first, that the governing and executive power in the Church is in the brotherhood; and secondly, that the Church organization is complete in each worshipping assembly, which is independent of every other.

In stating the principles which regulate exchangeable value and price, we should carefully distinguish between those variations which belong to the commodity itself, and those which are occasioned by a variation in the medium in which value is estimated, or price expressed.